Tesco has signalled plans for further expansion in China’s Shandong province with a lease agreement on a store in the city of Dongying.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The UK retail giant, which has 66 stores in China, told just-food yesterday (1 October) that it had secured a lease on a store in Dongying – one of China’s so called “third-tier” cities – although it had yet to open a store there.
Tesco is looking to expand its operations in Shandong and Fujian provinces and already has stores in China’s second-tier and third-tier cities, into which both domestic and foreign retailers are looking to expand.
The company, which is competing with the likes of Wal-Mart and Carrefour, as well as domestic chains including Wumart Stores, is also trialling its Express format in China’s north-east.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
